I was just given the following bullet points from one of the individuals who got briefed at the staff level on John Boehner’s proposal:

On background if you would please*, just left the meeting on the Boehner deal. Some highlights:

1. Outlay reduction for FY 12 – $25 billion cut in discretionary spending.
2. Debt limit increase right away – $1 trillion
3. Does not touch Obamacare funding, Medicare or Social Security
4. Includes the McConnell automatic increase without a vote – they tried to sell us on “your boss isn’t actually voting for a debt limit increase”
5. Joint Select Cmte Created – 12 Members, if Commission recs pass on entitlement reform, then Pres gets another debt limit increase
6. Budget Authority in FY 12 is $ 7 billion less than FY 11 in discretionary spending.

* I did get permission before running with this.